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Home My WebLink About0798 aqterment or applicable laN. AorroMCr shall par the amount ot all monqage inwnnce premium~ in chc ma~ner prov~ded ' under parag~aph Y hereof. Any amounts di~bu~sed Gy I.ender pursuant co this puagraph 7, with interest thereon, ahal) become additional in• _ debtedness of Borrower xcurcd by thi~ ~tortg+ge. U~less Borrower and I.ender aqree to other terms o( payment, wch amounts shall be parable upon uotii~ (~om Lender to Borrower requesting paYtnent thercot, and shaU txar interat from ihe date ot disburxment at the ratc payable trom time to timc on ouutauding principal under the I~ote unleu pay~ue~t i ot interest at such rate would be contrary to applicable law, in which eve~t wch amounts ~hall brar interest at the higheu ~ r.tc permissible under applicable law. hothing conuined in thia paragraph 7 shaU requirc Lendet to incur any expense or f take any action hereunder. 8. Ia~pettlon. Lender may make or cause to be made reasonable cntries upon and inspections ot the Property. pro- ; ~ided that l.ender ~tull give Borrower noticc prior to any wth inspection speci(ying reawnable caux therc(or related to 3 Irnder's intereu in the PropertY. , f 9. Condemnation. The praeccis o[ any award or tlaim (or damages, direct or conxquential. in conoection with any ~ condemnation or other uking ot the Property. or part ~henof, or tor conveyance in tieu of condemnation, are hereby as- ~ig~?td ~rci, sh:l; bc pa:d to Lcndtr. : !n the event oE a tota! takinq ot the Property, the proceeds shall be applied to tht sums secured by this Afortgage. w•~th the excess, if any, paid to BorroMet. In the evenc oE a partial taking o( the Property, unlesi BorroNer and l.ender i otherwise agree in writing, there shall be apPlied to the sums securcd by this ~tortgage such proportion of the praeeds ~ a; is equal to that proportion which the amount o[ the sums secured by this \tortqage irt'bmediately prior to the date .oI , taking bean to the tair market value of the Propeny immediately prior to the date ot caking, with the balance of the pro- ~ cceds paid co ,Borrow+et. It the Property is abandoned by Borrower, ot if, after notice by L,ender to Borrower that the condemnor o(ten to make ao a~rard or settle a claim tor damages, Borrower fails to respond to Lender Nithin 30 days a(t~r the date such notice ~ is mailcd, Lender is authorized to collect and applp the praccds, at Lender's option, either to restoration or repair oE the Property or to the sums secured by this ~torcgage. Unless i.ender aod Borrower othenvise agree in writing, any such application oE praetds to principal shall not extend ur postpone the due date of the monthly installments refetted to in paragraphs 1 and 2 hereof or change the amount o[ such installments. 10. Bormwer Not Releaied. Extension o[ the time tor payment or modi(ication oi amortization oE the sums secured by this ~iortgage qnnted by L.ender to any successor in i~terest ot Borrower shall not operate to release, in anr manner. the liability oE the oriqinal Borrower and Borrowers successor~ in interest. I.endcr shall not be required to commence pr«eedings against such successor or re[use to extend timt for payment or oth~rv?is~ modi[y amortization o[ the sums se- cureci by this ~iortqaRe by rcasc~n o( any dcmand macle by the original Bonower and Borrower s successon in interest. ll. Forbearance b~ Lender Not a Waira. Any forbearance br Lender in exercising any right or remedy hereunder, or otherwise aftorded by appliuble IaN, shill not be a wai~er ot or p~eclude the exercise of any such right or rcmedy. The procurement ot insunnce or the pa~ment of taxes or other liens or charqes by Lendcr shall not bc a wai~•~r of L.ender's riRht to acctlerate the inaturity of the iudebtedness securcd by this ~iortgage. i2. Ren~dies GLmulative. Alt remedies proyidec! in this lfortgage are distinct antt cumulatice to any other right or ~ remecl~ under this Atortqage or aftorded by law or eyuitY, and may be exercised concurrently, ind~pendently or sutttui~dy. 13. Succeasors and Auigos Bound; Joiut and Sere~al Liability; Captiona. 'I'he co~•e~~ants and aRreements herein ~ contained shall bind, and the rights hereunder shall inure to, the respective succcswrs and auigns ot Lender aud Borro~+er, j subjece t~ the pro~isions o( paraRraph 17 hereo(. All covemnts and aqrremenu of Borrow~r shall be joint and x~•eral. The ~ captions anel headings o[ the paragraphs of this ~tortgage are for com•enience only and are not to be used to interpret or ;I detine the provisions hereof. . I ; 14. Notice. Extept tor any notice required under applicablt law to be gicen in another manner, (a) an~ notite to Borrower pro~~ided tor in this ~iortqage shall be gicen by tnailing such notice by certi(ied mail addressed to Borrower ac i the Propcrty .lddress or at such other address as Borrower may dcsignate by natice to I.~nder as pra~•idcd hertin, and (b) any notice to Lender shall be qi~~en by certified mail, return receipt requested, to Lender's addreu stated herein or to such oeher address as Lender uuy daignate by notice to $orrower as provided herein. Any notice pro~•ided tor in this ~iortgage shaU be deemed to ha~•e been Ri~•en to Borrower or l.ender when Aiccn in the manner desiQnated herein. ' 1'~. Uni[orm Mortgage; Co~erning Law; SererabiUqr. This [orm o[ mortgage combines uni[orm co~•enants Eor na- ~ tional use and non-uniform co~enants with limited ~ariations by jurisdiction to constitute a unitorm securit} instrument i co~•erinq real propertp. This ~tortgaqe shall be qo~~erned by ehe law o[ the jurisdiction in which ehe Propert}' is located. ~ In the event that any pro~•ision or dause of this ~(ortgage or the Note contlicts with applicable lavr, such con[lict shall not j afftct other provisions of this ~fortqaRe or the \ote which can be gi~•en ef[ect Mithout the conflictinR pro~•ision, and to this end the provisions o( the ~tortgaRe and the Note are declared to be severable. ~ ~ 16. Borro~rer's Copr. Borrower shall be turnished a confortned copy of the \ote and of this ~lortqage at the time ~ of execution or atter recordation hereof. ~ 19. Transfer oE tbt Properry; Asdumption. I[ all or any part of the Property or an interest therein is sold or tnns- ~ ferred by Borrower without Lender's prior writtem m~sen[, excluding (a) the creation of a lien or encumbrance subordinate to this ~tortgage. (b) the treation ot a purchase money seturity interest for household appliances. (c) a trans(er by devise. ~ descent or by operation of law upou [he death ot a joint tenant or (d) [hc Rrant of am leasehold interest ot three yean or ~ less not containing an option to purchase. Lender may. ae Lender's option, declare all the sums secnred by this 1~tortqage to E be immediately due and papable. Lender shall ha~•e waived such option to accelente if, prior to the sale or transfer, Lender ~ and the person to whom the Proptrty ix to be sold or tnnsferred reach aRreemrnt in writing that the credit o[ such person ~ is satisfactory to Lender and that the interest pa~able on the sums secured by this '.?iortqaqe shall be at such rate as Lender _ ~hall rerur_ri: I~ i~r.~er Fas ~airet3 .hr ~Yti~n ta ar~clr;ats pn~:~~ ir. zl;ii ~agraY~ ara d: P~:~-~zrcr's s:~cc~~r ;n ~ ineerest has execoted a writcen assumption aqreement atcepted in writinq by Lender. Lender shall release Borrower from ' a11 obliqations under this '~~ortga}Se and the :~ote. ! IE Lender exrrcises such option to atcelerate, Lendet shall mail Borrower notice of acceleration in accord~nce with paraqraph 14 hereof. Such notice shall pro~•ide a period oE not leu than 30 days (rom the date the notice is mailed ~rithin , which Borrower may pay the suau declared due. If Borrower (ails to pay such sums prior to the expiration ot such period. Lzndtr ma~. W!!h4U~ ~~!S~~? IlOClC!' 47 ~[L~l3P_~ 4P_ ~fS4!4ti. !5297~CC gnir t[ffi[d!!S ~C*!L~i~tvr~ ho F?~3~T3~h IA h~rw?F_ Nox-UrtFOtw COVENANTS. Borrower and Lender [urther covenant and agree as (ollows: 18. Acceleration; Remtdip. Ezcepe as -pmridod in pangnph 19 bereof. upon Borroscer's brach of any msenant ar agrrement oi Borrower in tLis Mortgage, including the covenants to pa~ wheo due anr sums secured by [his ~iortgage. Lender prior to acceleration ihall mail notice to BorroMrcr as provided in pangnph 1~ hercot speci[ying: (1) tbe bnacL; the action required to cure wcb breac6; (3) a dau, not kss t6an 30 days irom t6e date the noeice is mailed to Borro~rer. , by which such brtach muu be cvred; and (1) t6at failure to cure wth breuh oa or be[ore t6e date specitied in the notice may ~ nwlt in xcelmtion of the wms secured br this Mortgage. [oreclosure br judicial proceeding and sale of the Properq. The ~ notice shall fur[her inform Borro~rer of the rig6t to reinwte aftet aaeleration and the right to asere in the toreclowrr ; Proceeding the non~istence of a detault or any Wher ddense of BorroM?er to atcderation and toreclosure. If the brqch is j not curcd on or betore the date specified in the notice. Lender ae Lender's option may declue all of the wr~u secured b~ this Mortgage to be immediately due and payable without turther demand and mar foreclose this Mortgage br judicial proceed- ing. I,ender alull be entitled to collect in wch proceeding all t~cpenies of fortclawre, including, but not limited to, reas~u- abk attorney's Eeea, and cow oi documeoury evidenct, absuacu and titk reports. - r, ~ r'~~ ~5 P~~ 791 ,